How would you handle this situation?

[Jamie Addeo]

Hello Everyone,

My mother and I purchased a condo together 10 years ago (we are both on the mortgage and deed). For many years this condo has been a point of contention between both of us. She is untrustworthy and not someone I want to be partners any longer (that story is for another thread lol). I have been financially maintaining this condo for the last 5 years. I have asked her to quit claim it over to me mostly because I am desperate to separate myself from her with regards to this condo. She has finally agreed. Let me add, that the condo is currently rented and will be used as an investment property. I can't sell right now bc I am underwater. I am ok letting it sit there with a few Tenants. The question is after she quit claims it over, should I keep it as a personal asset (or liability) or then go and quit claim it again into an LLC for protection. Also, since I already own the condo with her, I would not be accountable for any gift tax right?